Elizabeth Warren Releases Plan to Pay for ‘Medicare for All’ - $20.5 trillions over 10 years (NYT link)

For example, my company pays $30K per employee for healthcare while my wife’s pays $20K. I have a better plan and have the family in it but I’d be surprised if my company just sends the government $30K per employee and feels ok about it when my wife’s company is asked to pay less. I don’t see why a company would want to pay more when their workers get the same benefits as the rest of the country at the end of the day.

This is a recurring theme. For example, here's the direct link to Bernie's plan to pay for M4A.

https://www.sanders.senate.gov/download/options-to-finance-medicare-for-all?inline=file

Here is his first bullet point:

7.5 percent income-based premium paid by employers Revenue raised: $3.9 trillion over ten years.

Businesses would save over $9,000 in health care costs for the average employee under this option

Okay. Now let's read on (or skip below if you don't care... I'm just proving I'm sourcing things):

In 2016, employers paid an average of $12,865 in private health insurance premiums for a worker with a family of four who makes $50,000 a year. Under this option, employers would pay a 7.5 percent payroll tax to help finance Medicare for All – just $3,750 – a savings of more than $9,000 a year for that employee.

During the four-year transition period to guarantee health care as a right, millions of workers will have the option to transfer from their employer-provided health care to the new Medicare for All system. As workers shift into the new system, employers will be required to pay either 75 percent of what they are currently paying for health care costs for each of their employees who enroll in Medicare for All, or the 7.5 percent payroll tax, whichever is higher.

An employer’s first $2 million in payroll would be exempt from this premium protecting small businesses throughout the country.

Wait, what? Let's re-examine.

First he says:

Businesses would save over $9,000 in health care costs for the average employee under this option

This is because it used to be $12,865. Now it'll be $3750. That is indeed a savings of over $9000.

However, he also says:

employers will be required to pay either 75 percent of what they are currently paying for health care costs for each of their employees who enroll in Medicare for All, or the 7.5 percent payroll tax, whichever is higher.

So you legally cannot save more than 25% of your current costs. If you're currently paying $12,865, you legally cannot save more than $3200. Which means you can never by law save the $9k he promised.

/r/Economics Thread Parent Link - nytimes.com